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Microsoft Becomes World's Most Valuable Company After Apple Rout

Bloomberg business news
Loup’s Munster and BTIG’s Piecyk discuss Microsoft briefly overtaking Apple as the most valuable U.S. company.(Source: Bloomberg)

Microsoft Corp. surpassed Apple Inc. to become the world’s most valuable publicly traded company. All it took was a $300 billion rout.

After briefly claiming the top spot on Monday, Microsoft shares rose 0.6 percent Tuesday, pushing the company’s market value to $828.1 billion at the close. That exceeded by more than $1 billion the value of Apple, which has tumbled this month on concern about iPhone unit sales. The last time Microsoft’s market capitalization was bigger than Apple was in 2010, according to data compiled by Bloomberg.